Shiba

Shiba Inu

Trillion

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As the <a href="https://u.today/shiba-inu-heres-who-caused-15-shib-price-slide" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> price continues to navigate through a period of consolidation, on-chain data reveals a surprising insight: a massive 733 trillion SHIB tokens held in wallets remain profitable despite the current lull in SHIB's price. This revelation underscores the resilience and long-term commitment of SHIB holders, despite short-term fluctuations in market sentiment.
The Break Even Price indicator looks at realized gains and losses based on on-chain data for addresses that are currently holding the crypto asset. Despite the recent SHIB price lull, this on-chain indicator reveals a substantial portion of SHIB holders continue to hold onto their tokens at levels where they are in profit. <img alt="IntoTheBlock" data-entity-type="file" data-entity-uuid="012f30c0-f194-4b77-b8a1-436028a918b1" src="https://u.today/sites/default/files/inline-images/2024%2005%2003%200000.PNG"><a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">Shiba Inu (SHIB) Break Even Price, Courtesy: IntoTheBlock</a>
According to <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a>'s breakeven price indicator, a whopping 733.61 trillion SHIB held by 653,530 Shiba Inu addresses are in profit, having been bought in the range of $0.000002 and $0.000022 at an average price of $0.000011.&nbsp;
This figure highlights the significant accumulation of tokens by SHIB holders who have weathered multiple market cycles and remain committed to their hodling strategy.&nbsp;
Furthermore, this might suggest that many holders are taking a long-term perspective on their SHIB holdings. Rather than succumbing to short-term market volatility, these holders are focused on the potential future growth and adoption of SHIB, as well as the development of the broader Shiba Inu ecosystem.
<h2 id="shib-price-action">SHIB price action</h2>
At the time of writing, <a href="https://u.today/shiba-inu-at-crossroads-as-69-trillion-shib-hangs-in-balance" rel="noopener noreferrer nofollow">SHIB</a> was up 4% in the last 24 hours to $0.00002372, matching the general market recovery. After five straight days of falls, the SHIB price began to recover from its May 1 low of $0.0000223.&nbsp;
Shiba Inu is continuing its recovery into the third day, achieving highs of $0.00002383 in today's session. Shiba Inu has been consolidating in a large range between $0.00001837 and $0.00003285, following its slide from highs of $0.000045 on March 5.&nbsp;
In the very short term, a sustained break above the daily moving average 50 at $0.00002635 might spark a new move for the SHIB price, with targets at $0.0000328 and, eventually, the $0.0000457 level.

Shiba Inu: 733 Trillion SHIB Stays Profitable Amid Price Dip

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